KHCB Inaugurates ‘Khaleeji eTrade’ platform

Tuesday, March 12, 2019
Khaleeji Commercial Bank (KHCB), one of the leading Islamic banks in the Kingdom, has inaugurated its “Khaleeji eTrade” platform in the presence of Mr. Khalid Hamad, Director of Banking Supervision in the Central Bank of Bahrain (CBB), Shaikh Ahmed Bin Isa Al Khalifa, Vice Chairman of Khaleeji Commercial Bank, Mr. Abdulkareem Bucheeri, Chairman of the Board of Directors of Bahrain Bourse, Shaikh Khalifa bin Ibrahim Al Khalifa, CEO of Bahrain Bourse, Mr. Sattam Sulaiman Algosaibi, CEO of Khaleeji Commercial Bank and a number of representatives of various financial institutions. The inauguration came on the sidelines of the annual E-Payment and Online Banking Summit, which is organized in the Kingdom of Bahrain on the 11th - 12th of March, 2019 under the patronage of the Central Bank of Bahrain.

The platform is the first of its kind in the Kingdom that offers many privileges, making it an essential engine for the bank’s clients as it enables them to easily open accounts to trade stocks listed on Bahrain Bourse, place Buy and Sell Orders, review market performance charts, receive the latest news on the local and international markets and other services that could be conveniently accessed through the application allocated for smart devices.

On this occasion, Mr. Algosaibi commented “The inauguration of this platform comes within the frame of KHCB’s commitment to providing the latest innovative technologies to its valuable clients, as we are focused on handpicking modern technologies that suit our strategic goals. The bank has previously launched a bundle of leading projects in this field, with the aim of providing innovative solutions to our respected clients.”

Mr. Algosaibi added “The ‘Khaleeji eTrade’ platform serves our customer base through facilitating the process of electronic trading through the application available for smart devices, linking them directly to the trading floor through an interactive platform that will allow them to benefit from the investment opportunities available in all financial instruments listed at the Bourse and select what suits their objectives without the need for dealing with a broker. This comes as a result of intensive studying of the market, as it was found that there is a necessity of developing a smart device application to simplify the trading process and provide clients with innovative solutions that make the sale, purchase and supervision of trading processes in Bahrain Bourse easier than ever before.”

Commenting on this occasion, Shaikh Khalifa Bin Ebrahim Al Khalifa the Chief Executive Officer of Bahrain Bourse stated: “Khaleeji eTrade, which falls under the Bahrain Trade platform, aims to facilitate investor access particularly retail investors to Bahrain Bourse, which we hope will have a positive impact on the market’s liquidity”.

Sh. Khalifa added “We look forward in the near future to see other participating banks launching the same platform via rolling-out this service to their respective clientele base in order to benefit from this unique interactive service.”
It is noteworthy that the ‘Khaleeji eTrade’ platform comes within the ‘Bahrain Trade’ network; one of the most recent initiatives that aim to enhance customer service at Bahrain Bourse, which is jointly being operated with ‘Mubasher’ financial services company; one of the licensed brokers on Bahrain Bourse and the Middle East Region’s leading brokerage services provider that has been designed to provide investors with high-tech and safety for execution of transactions as well as convenience and ease of use.”